San Luis Obispo County Homes with Apartment Subtype

San Luis Obispo County Homes with Apartment Subtype

Welcome to San Luis Obispo County, a gem nestled in the heart of California’s Central Coast. Known for its stunning landscapes, vibrant culture, and delightful weather, this county is a haven for those seeking a balanced lifestyle that combines outdoor adventure with a thriving community spirit. From picturesque vineyards to breathtaking coastal views, San Luis Obispo offers a unique blend of natural beauty and urban charm.

One of the most appealing aspects of living in San Luis Obispo County is the diverse range of housing options available, particularly homes with an apartment subtype. These properties are perfect for families, investors, or anyone looking to supplement their income with rental opportunities. Imagine owning a charming home with a separate apartment space that can be used for guests, an in-law suite, or a rental unit—providing flexibility and added value to your investment.

The homes in this area often feature modern amenities while still retaining the character and warmth that defines the Central Coast lifestyle. With a variety of architectural styles, from cozy cottages to contemporary designs, you're sure to find a home that suits your taste and needs. The vibrant neighborhoods are complemented by excellent schools, parks, and local markets, making it easy to enjoy the best of what San Luis Obispo has to offer.

Whether you’re drawn to the bustling downtown scene, the serene beaches, or the scenic hiking trails, San Luis Obispo County is a place where you can truly thrive. Explore the opportunities that await you in this beautiful region, and discover your dream home with an apartment that fits your lifestyle perfectly!

Newest San Luis Obispo County Homes with Apartment Subtype

1440 K Street, San Miguel
$1,095,000
PI26220384 MLS ⋅ Active Status
Great Investment opportunity. Bread & Butter multi unit property for sale in San Miguel. Unit mix includes ( 1) stand alone 1 bed/1 bath single home, and ( 6) studio apartments. Studios have vouchers from HASLO for VA ( Veterans program), and one Voucher Section 8 ( Program). The property is very large with potential for expansion, or new development ( check with County regarding other improvements or uses).

1440 K Street, San Miguel
111 Oak, Paso Robles
$2,500,000
SC26210944 MLS ⋅ Active Under Contract Status
Rare 12-unit multifamily investment opportunity in Paso Robles, situated in the heart of California's Central Coast wine country. The offering consists of three fourplex buildings located on one parcel at 111 Oak Street, 121 Oak Street and 122 Vine Street. The property features a consistent unit mix of twelve two-bedroom, one-bathroom residences and combines established rental income with opportunities for future growth. Currently 10 of the 12 units are occupied with two vacant units offering lease-up potential generating more income. Laundry facilities on site and each unit includes a designated carport parking spot with storage closet. Convenient access to Highway 101 and downtown Paso Robles which places residents near restaurants, shops, tasting rooms and everyday amenities. With existing cash flow, scale and value-add potential, this offering presents a compelling opportunity for a 1031 exchange buyer, multifamily investor or portfolio owner seeking to expand their holdings on California's Central Coast.

111 Oak, Paso Robles
6350 Santa Ynez, Atascadero
$2,338,000
SC26138700 MLS ⋅ Active Status
This charming, highly desirable eight townhomes property is set back from the quiet street, situated on over half an acre, amongst a variety of mature trees including majestic redwoods. The property offers a quiet, serene, retreat-like environment. There are three separate buildings with one building containing two, 2 bedroom, 1 bathroom townhouse units and two buildings with three, 2 bedroom and 1.5 bathrooms townhome in each building. All but one of the units have been partially or fully updated. Additional highlights include laundry in all units, ample off-street parking with 19 spaces and a large common backyard recreation area. The buildings are all electric with individual units’ electric meters. This is a high tenant demand building. Residents appreciate the peaceful surroundings and yet so conveniently close to restaurants, shops, parks, downtown Atascadero transit options and the 101 freeway. To top it off, there is rental income upside and significant upside/value-add through future ADU development as the City of Atascadero says they would be keen to see ADU’s added to the property. Buyer to verify with the City.

6350 Santa Ynez, Atascadero
1570 Lakeside, Oceano
$2,200,000
SC26164339 MLS ⋅ Active Status
Great 6-unit investment property. This property has two quaint single-family homes and a fourplex. Nestled in this quiet west of Hwy 1 Oceano neighborhood, just minutes away from the beach, lagoons and Oceano Dunes! The homes' addresses are 567 & 571 Honolulu. These two single-family homes are 2 bedrooms, 1 bath with fenced front and back yards. The two upstairs apartments of the fourplex are 2 bedrooms, 1 bath. The other two-story apartments of the fourplex are 2 bedrooms, 1.5 bath. Each unit has an assigned carport parking spot; there is also plenty of off-street parking spaces in front of the fourplex. The four plex was built in 1984 and the homes are built in 1940. The fourplex was recently painted. New asphalt driveway and drainage system. Laundry room is shared. Rental history is good. Long term tenants.

1570 Lakeside, Oceano
124 128 Stenner, San Luis Obispo
$2,050,000
SC26171467 MLS ⋅ Active Status
124/128 Stenner st. offers an amazing opportunity to own a 4 unit complex located in a highly desirable college district walking district to Cal Poly. The property consists of a front 2-bedroom, 1-bath home, along with three upstairs units: two spacious studio apartments and a large 2-bedroom, 2-bath unit featuring two private decks. The property has recently been refreshed with new interior paint and vinyl plank flooring throughout. The front deck of the main house has been completely rebuilt, along with the exterior stairway providing access to the upstairs units. Each unit is separately metered for electricity and gas, while water is provided through a master meter. The property also features a large carport with ample off-street parking to accommodate residents. There may also be potential to explore converting a portion of the existing carport area into additional living space, subject to applicable zoning, permitting, and city requirements. Properties like this rarely become available. This is an excellent opportunity to own a centrally located, four-unit property with established college-rental potential and a proven rental history, just minutes from Cal Poly and all that San Luis Obispo has to offer. The past rental cycle from 7/1/25-6/25/26 property was leased at $13k/mo.

124 128 Stenner, San Luis Obispo
839 Longbranch, Grover Beach
$2,650,000
SC26150620 MLS ⋅ Active Status
Well-maintained 7-unit apartment building in an excellent Grover Beach location. Conveniently located near the popular Grand Avenue corridor with shopping, restaurants, and ongoing new development, the property also offers easy access to the beach, community parks, the Amtrak station, public transportation, Highway 1, and Highway 101. Five of the seven units have been updated with updated flooring, countertops, fixtures, and appliances. A recently installed MeterNet water sub-metering system allows the owner to recover water costs from tenants, helping improve operating efficiency. Additional amenities include seven private garages, off-street parking, and a community coin-operated laundry facility. With recent capital improvements, utility cost recovery through water sub-metering, and future rental upside, this property presents an excellent investment opportunity.

839 Longbranch, Grover Beach
135 Ferrini Road, San Luis Obispo
$3,950,000
SC26142002 MLS ⋅ Active Under Contract Status
Located just minutes from Cal Poly and downtown San Luis Obispo, 135 Ferrini Rd presents a rare opportunity to acquire a 5 unit fully leased, purpose-built student housing investment completed in 2018. The property is currently generating $24,775 in monthly gross income ($297,300 annually) and offers modern construction, efficient floor plans, and strong in-place cash flow. Ideally situated in one of San Luis Obispo's most desirable rental locations, the property provides convenient access to Cal Poly, downtown, shopping, restaurants, public transit, nearby parks, and some of the area's most popular outdoor recreation, including the Bishop Peak and Madonna Mountain trail systems. With its excellent location, strong income, and contemporary construction, this turnkey investment is well positioned in one of California's most supply-constrained rental markets.

135 Ferrini Road, San Luis Obispo
351 San Luis Ave, Pismo Beach
$1,630,000
SC26066813 MLS ⋅ Active Status
Incredible ocean views just over a block from the sand! 351 San Luis Avenue offers a rare opportunity to own a versatile coastal property in the heart of Pismo Beach. Ideally located within walking distance to the pier, downtown shops, and restaurants, this property captures the essence of beachside living while delivering strong income potential. The property consists of five residential units, including a one-bedroom unit, three studio units, and a larger upper-level studio with a private balcony showcasing sweeping ocean views. From this elevated vantage point, enjoy breathtaking sunsets over the Pacific and front-row views of the Fourth of July fireworks over the Pismo Pier. Whether you’re looking to invest or live onsite, you have the flexibility to choose your preferred unit to owner-occupy while generating income from the others, all while taking full advantage of the property’s standout coastal views. Additional features include a one-car garage, a shared outdoor patio area ideal for relaxing or entertaining, a coin-operated laundry room, and a separate storage shed. The garage, laundry, and storage shed are all currently rented, providing additional income streams beyond the residential units. The property has seen recent improvements including a new roof and balcony railing, newer exterior paint, and updates to plumbing and electrical systems, enhancing both functionality and long-term value. With limited multifamily inventory in this highly desirable coastal community, the property benefits from strong tenant demand and long-term upside. Whether you’re seeking a primary residence with rental income, a vacation property, or a solid investment, 351 San Luis offers a unique blend of location, income, and exceptional ocean-view living in one of the Central Coast’s most sought-after markets.

351 San Luis Ave, Pismo Beach
Start Your Search

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

How much is your home worth?

Get instant property value now!